Monday, September 20, 2021
Farmers Debt Relief

77 shaheed soliders

516 sewa kendras

9300 cr Investment

helpline portal

jallianwala bagh

mrsptu

Markfed Sept to Nov

Innocent Admission

Coronavirus to hamper global smartphone sales by 7% in Q1

- Advertisement -

New Delhi, March 5, 2020 –

Although factories are beginning to ramp up production slowly, the first quarter smartphone sales are likely to hit by over 20 per cent in China in the first quarter, resulting in global sales going down at least 7 per cent compared to same period last year, a new report said on Thursday.

Foxconn said it is running at about half its normal low-season capacity — this equates to about 25 per cent of full capacity.

“While factories are anxious to ramp-up production, they’re also being careful that labour-intensive work does not rekindle viral outbreaks,” said Peter Richardson, Research Director, Counterpoint Research.

“Our initial expectation was that the virus would be contained within two months and take three further months for things to get back to normal. We now expect Q1 China sales to be down by around 25 per cent compared to the original forecast. This is 18 per cent lower than Q1 last year,” he explained in a statement.

This can worsen if the virus is not contained.

“Global sales will also go down 7 per cent compared to the same period last year. Overall, we think Q1 and Q2 will show negative growth both globally and in China before rebounding,” forecast Richardson.

As China gradually recovers from the initial peak of infections, the factory production will gradually return towards normal.

However, the reduced capacity is likely to continue into the second quarter.

“The impact to supply and demand was most acute in China. Supply restrictions have started to show up in other global markets,” said Richardson.

“We are now expecting to see some impact to demand in global markets as consumers moderate their economic activity in the face of personal and economic uncertainty,” he added.

According to some offline retailers, they have experienced a 50 per cent drop in sales during the late January period.

“There will be impact to new devices to be launched in the first half which have facilities in China, as factories will not function properly. Components sourced from China will also be impacted as all factories will resume operation slowly and cautiously,” said Counterpoint.

This will range from displays from Chinese electronic components producers like BOE, CSOT and semiconductors from YMTC and further on.

“So the negative impact from the supply chain side will last until end of Q2. The impact of nCoV-19 could be much more severe than many currently expect,” Richardson noted.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,369FansLike
112,313FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Joe Biden

Joe Biden’s QUAD summit could yield up to $100bn in military sales – by Robinder Sachdev

US President Joe Biden will be hosting the QUAD countries' heads of governments summit this coming week, in Washington D.C. – comprising of the...
Taliban captures Kandahar

Finally, the Taliban are on the receiving end – by Amjad Ayub Mirza

London, Sep 17, 2021- As missiles came raining down on Kabul during the early afternoon of September 16, it sent a disturbing message across...
Rahul Gandhi Congress Neon

RaGa’s Kashmiri Pandit solidarity may be an assertion for electoral gain – By Deepika Bhan

Thirty-one years after the exodus of Kashmiri Pandits from Kashmir, the Nehru-Gandhi family has for the first time unambiguously spoken up for the community....

SPORTS

Health & Fitness

Gallbladder

Is gallbladder gangrene a new post-Covid risk?

New Delhi, Sep 17, 2021- Doctors at Sir Ganga Ram hospital (SGRH) here on Friday reported five cases of gallbladder gangrene among people two months after they recovered from Covid-19 infections. The gallbladder is a small, pear-shaped organ on the right side of the abdomen, beneath the liver. Its function is to store bile needed for the digestion of fats...

Gadgets & Tech

error: Content is protected !!